Free trade between two countries (A and B) concentrates manufacturing, the invisibles (commerce, banking, shipping, insurance), capital, technology, and skills in A, the country that has an initial comparative advantage (however small) in manufacturing. Conversely, the country with a comparative...

This paper presents a schematic history of the global economy since 1800. The economic and political logic of global capitalism in this period is defined by its ability to derive a growing share of its energy from fossil fuels. The explosive growth of this period, the dominance of capital, the...